, Labour’s Shadow
Secretary of State for Work and Pensions, responding to
the latest ONS statistics on wages and the labour market,
said:
“Real wages have now fallen to almost £300 lower than they were
15 years ago.
“Alongside a decade of the Conservatives’ failure to grow the
economy, their punishing tax rises, surging inflation and real
terms cut to support mean people across the country are facing a
cost of living tsunami.
“By refusing to take action on the cost of living through an
emergency budget, has shown once again the
Tories simply aren't on the side of working people."
ENDS
Notes to editors:
1. In March 2022, average weekly earnings (regular
pay) in the whole economy were £558. In September 2007, average
weekly earnings (regular pay) in the whole economy were £394.
ONS Statistics, ‘EARN01: Average Weekly Earnings’, Labour
Market Statistics, 17 May 2022,
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/averageweeklyearningsingreatbritain/may2022
2. Adjusting for inflation using ONS statistics on
Consumer Price Inflation, average real wages (regular pay) were
£29,016 in March 2022, compared with £29,290 in September
2007.
ONS, ‘Consumer price inflation, UK: March 2022’, 13 April
2022,
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/march2022
